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18 September 01:00 PM

Banking

Emirates NBD is committed to making banking easy - Sarkar
17 September 04:35 PM Emirates NBD offers dynamic currency conversion to UAE visitors
Dubai – Mubasher: Emirates NBD has recently offered dynamic currency conversion of cash withdrawals by using Visa cards at any Emirates NBD ATM for all UAE travellers countrywide, according to a press release. Emirates NBD’s new edge came …
Banking and Finance
Filipino transfers in Bahrain and Kuwait hiked
16 September 04:30 PM Filipino labour in GCC registers $3.4bn remittance in 7M
By: Eman Ghali Mubasher: The international money transfer of Filipino labour in GCC countries fell by 8.36% year-on-year during the first seven months of 2019, with 96.6% of such remittances landing in Asia. The international transfers of the …
Sector Reports
Green sukuk market is expected to grow further
27 August 09:43 PM Global sukuk issuance to equal $130bn in 2019
Mubasher: The value of global sukuk issuance is expected to increase by 6% to reach $130 billion in 2019, which represents a fourth consecutive annual increase, according to a report released on Tuesday by Moody's Investors Service. That forecast …
Banking and Finance
Total assets recorded $2.19 trillion in H1-19
26 August 03:38 PM GCC banks’ assets hit $2.2trn in H1
By: Bedour Al Raee Mubasher: Assets of banks operating in the GCC increased by 9.13% year-on-year during the first half of 2019. Total assets recorded $2.19 trillion in H1-19, compared to $2.01 trillion in H1-18, according to Mubasher statistics. …
Banking and Finance
Bank Audi is listed on the Beirut Stock Exchange
22 August 02:53 PM GGF invests $15m on EE and RE projects in Bank Audi
Mubasher: In line with its efforts to strengthen the lending portfolio in the areas of energy efficiency (EE) and renewable energy (RE), Green for Growth Fund (GGF) has recently invested $15 million in Lebanon’s biggest green lender, Bank Audi. …
Banking and Finance
Emirati banks led the region in terms of profits
20 August 09:29 PM GCC banks post $18.5bn profits in H1-19
By: Bedour Al Raee  Riyadh – Mubasher: A number of 61 banks in the GCC reported an 8.5% year-on-year profit hike during the first six months of 2019, recording $18.54 billion. Emirates NBD topped profitable banks in the GCC in H1-19, registering …
Banking and Finance
The board of directors has accepted the resignation effective from 19 August
19 August 09:58 AM Oman & Emirates Investment’s CEO resigns
Abu Dhabi – Mubasher: Oman & Emirates Investment Holding Co (OEIHC), listed on the Abu Dhabi Securities Exchange (ADX) and the Muscat Securities Market (MSM), on Monday announced the resignation of its CEO Awad Mohammaed Faraj Bamkhalef. The …
Saudi ownership of US Treasuries reached $179.6bn in June
16 August 08:47 PM Saudi tops Arab holders of US Treasuries in June
Riyadh- Mubasher: Saudi Arabia investments in the US treasury bonds rose by 9.3% year-on-year during June 2019, increasing its stake of the US treasuries for the fifth month in a row. Saudi Arabia’s holdings of the US treasury bonds grew to $179.6 …
Macroeconomics
Saudi Arabia topped Arabs with $179.6bn holdings
16 August 07:03 PM Kuwaiti ownership of US Treasuries grows in June
Mubasher: Recent data showed that Kuwait’s holdings of the US Treasury bonds increased by 7.2% month-on-month in June 2019. Kuwait’s holdings of the US debt instruments went up to $44.4 billion in June 2019 from $41.4 in May. On a yearly basis, …
Banking and Finance
A group of factors pushed up the bank’s profit
30 July 04:43 PM Kuwait C. Bank’s profit soars in FY18/19
Mubasher: The Central Bank of Kuwait’s (CBK) profit jumped 88.22% year-on-year to KWD 212.13 million ($697.57 million) during the fiscal year 2018/2019, according to a statement released on Tuesday. A group of factors pushed up the bank’s profit, …
Commodities
Liquidity and funding are stable
25 July 05:00 PM Saudi Banks enjoy higher profitability in 2018; Asset quality remains under pressure – Fitch
Riyadh - Mubasher: Saudi Arabian banks have seen improved probability during 2019, despite the pressure on asset quality, amid lower government spending and weaker consumer confidence, according to a report released on Thursday by Fitch Ratings. …
Macroeconomics
The USD has settled at EGP 16.56 for buying at AAIB
24 July 10:37 AM USD stabilises against EGP early Wednesday
Cairo – Mubasher: The US dollar exchange rate against the Egyptian pound has settled earlier on Wednesday at some local banks.   The USD has stabilised at EGP 16.56 for buying and EGP 16.66 for selling at National Bank of Egypt (NBE), Banque Misr, …
Banking and Finance
The USD fell to EGP 16.58 for buying at ADIB
14 July 04:13 PM USD falls against EGP on Sunday
By: Islam Fadl Cairo – Mubasher: The US dollar exchange rate declined against the Egyptian pound during late trades on Sunday at some local banks.   The USD dropped by EGP 0.01 to EGP 16.56 for buying and EGP 16.66 for selling at Banque Misr, …
Banking and Finance
The USD has stabilised at EGP 16.55 for buying at CIB
11 July 10:54 AM USD stabilises against EGP early Thursday
Cairo – Mubasher: The US dollar exchange rate against the Egyptian pound has settled earlier on Thursday at some local banks.      The USD has remained unchanged at EGP 16.57 for buying and EGP 16.67 for selling at National Bank of Egypt (NBE), …
Banking and Finance
The CBK’s total assets grew 2.25% in May
10 July 05:09 PM Kuwaiti C. Bank’s int’l assets hit $37bn in May
Mubasher: Foreign net assets of the Central Bank of Kuwait (CBK) increased by 1.44% year-on-year to KWD 11.25 billion ($37.06 billion) in May, the CBK’s data showed. On a monthly basis, the CBK’s foreign assets rose 0.54% from KWD 11.19 billion in …
Commodities
The USD has been steady at EGP 16.58 for buying at ADIB
10 July 11:32 AM USD trades steady against EGP early Wednesday
Cairo – Mubasher: The US dollar exchange rate against the Egyptian pound has stabilised earlier on Wednesday at some local banks.     The USD has settled at EGP 16.57 for buying and EGP 16.67 for selling at National Bank of Egypt (NBE), Banque …
Currencies
The USD has settled at EGP 16.55 for buying at CIB
8 July 11:06 AM USD trades steady against EGP early Monday
Cairo – Mubasher: The US dollar exchange rate against the Egyptian pound has stabilised earlier on Monday at some local banks.       The USD has settled at EGP 16.58 for buying and EGP 16.68 for selling at National Bank of Egypt (NBE), Banque …
Currencies
The USD has been steady at CIB at EGP 16.55 for buying
7 July 10:58 AM USD stabilises against EGP early Sunday
Cairo – Mubasher: The US dollar exchange rate against the Egyptian pound has settled earlier on Sunday at some local banks.     The USD has remained unchanged at EGP 16.58 for buying and EGP 16.68 for selling at National Bank of Egypt (NBE), …
Currencies
The USD has settled at EGP 16.6 for buying at NBE
4 July 12:54 PM USD trades steady against EGP early Thursday
Cairo – Mubasher: The US dollar exchange rate against the Egyptian pound has stabilised earlier on Thursday at some local banks.       The USD has settled at National Bank of Egypt (NBE), Banque Misr, Bank Audi, Misr Iran Development Bank, and …
Banking and Finance
The USD rate declined to EGP 16.61 for buying at ADIB
3 July 03:10 PM USD drops 6 piasters against EGP in Wednesday's mid-trades
Cairo – Mubasher: The US dollar exchange rate fell by 1 to 6 piasters against the Egyptian pound at some local banks during Wednesday’s mid-trades. The USD rate declined by EGP 0.06 to EGP 16.61 for buying and EGP 16.7 for selling at Abu Dhabi …
Banking and Finance
The USD has settled at EGP 16.65 for buying at NBE
27 June 10:34 AM USD stabilises against EGP early Thursday
Cairo – Mubasher: The US dollar exchange rate against the Egyptian pound has settled earlier on Thursday at 17 banks.     The USD has remained unchanged at EGP 16.65 for buying and EGP 16.75 for selling at National Bank of Egypt (NBE), Banque …
Macroeconomics
The USD has stabilised at EGP 16.65 for buying at NBE
23 June 12:07 PM USD trades steady against EGP early Sunday
Cairo – Mubasher: The US dollar exchange rate against the Egyptian pound has settled earlier on Sunday at 17 banks.       The USD has stabilised at EGP 16.65 for buying and EGP 16.75 for selling at National Bank of Egypt (NBE), Banque Misr, Al …
Macroeconomics
The USD grew to EGP 16.66 for buying at Credit Agricole
20 June 04:51 PM USD grows 7 piasters on Thursday
Cairo – Mubasher: The US dollar exchange rate against the Egyptian pound rose by 2 to 7 piasters at 16 banks at the end of Thursday’s trading session.   The USD grew by EGP 0.07 to EGP 16.66 for buying and EGP 16.75 for selling at Credit Agricole. …
Currencies
FAB conducts its business in accordance with the highest professional standards
19 June 01:22 PM FAB closes operations in Qatar, relinquishes QFC branch licence
Abu Dhabi – Mubasher: First Abu Dhabi Bank (FAB) will shut down its operations in Qatar as it has notified the Qatar Financial Centre Regulatory Authority (QFCRA) that it will relinquish its Qatar Financial Centre (QFC) branch licence and …
Law
The Omani economy suffers tighter liquidity conditions
18 June 05:34 PM Omani bank’s liquidity to remain tight; funding costs may go up – Moody’s
Mubasher: Moody's Investors Service expected that the volume of Omani bank’s funding and liquidity would remain low in the next year and a half due to the declined oil prices. Given Oman’s high oil breakeven point, $85 per barrel (pb), the …
Macroeconomics